Paris-based Zencap Asset Management, a branch of OFI Group specialised in private debt, has announced the first close of Zencap Credit ETI II, its second fund dedicated to the financing of mid-size companies.
The strategy aims to finance mid-size businesses based in Europe, in particular in France, whose turnover exceeds €50m and leverage ratio is below or equal to 4.
It seeks to provide a net annual return of 4%.
The fund has gathered some €195m of inflows, most of them coming from investors already invested in the first private debt fund of the firm.
The Zencap Credit ETI II fund is expected to close again on 22 July 2016.
The firm has set a target of over €300m in AUM.
After the second close of the fund, Zencap AM will manage and advise €1.4bn in assets.